Your gas prices may be going up this summer, here’s why

PENNSYLVANIA (WTAJ) — UGI Utilities, Inc. announced gas prices will be going up starting June 1, 2024.

UGI said customers should expect a rate increase from $90.94 to 95.04 or 4.5% based on a typical residential heating customer who uses 73.6 hundred cubic feet of natural gas per month. For typical commercial customers that use an estimated 28.77 thousand cubic feet per month, they should expect a 6% increase. Retail heating customers can expect a 6.5% increase.

“Despite this increase, natural gas remains a clean, reliable, and cost-effective energy choice,” Paul Szykman, Chief Regulatory Officer said. “UGI works to identify and acquire the lowest cost supply options for customers and our proximity to Marcellus Shale natural gas continues to achieve that goal on behalf of the customers.”

The company also expects to raise rates again on Dec. 1 an additional 7.3% for residential customers, 9.6% for commercial customers and 10.3% for retail customers.

UGI is required to file its gas cost rates annually for review by the Pennsylvania Public Utility Commission (PUC). UGC can adjust those rates quarterly to reflect changes in wholesale natural gas prices. By law, utilities cannot earn a profit on the natural gas commodity portion of a customer’s bill.

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Customers may call UGI at 1-800-276-2722 to receive further information on the proposed rates or to find out what actions they may take.

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